Past year: ▲ 32%(2.20 – 3.00 USD)
Each one in plain English, with the numbers worked through for a shareholder.
1 Aug 2018listing compliance notice▼ BadMajor
GMCI filed an amended Form 15 (signed July 31, 2018) to terminate its SEC registration and suspend its duty to file reports, citing about 207 holders of record. The filing does not mention the NAMI deal. The common stock is not cancelled; shareholders keep their shares, but the company stops public SEC reporting, so less information will be available to them.
30 July 2018listing compliance notice▼ BadMajor
GMCI Corp. deregistered its securities, ending its obligation to file reports with the SEC.
18 Dec 2017material agreement● NeutralMajor
On December 11, 2017 GMCI signed a non-binding-style letter of intent with NAMI Corp. under which NAMI would acquire up to 100% of GMCI's stock in exchange for NAMI shares. Completion depends on conditions including a share exchange agreement, approved financial statements, valuation of both companies' shares, approval from at least 70% of GMCI's shares, and an SEC registration statement by NAMI. No price or exchange ratio is given.
11 July 2017listing compliance notice▼ BadMajor
GMCI Corp. deregistered its securities, ending its obligation to file reports with the SEC.
14 Mar 2017asset acquisition disposition▼ BadMajor
This filing, made in March 2017 but dated to the March 2015 event, restates the SBS Mining acquisition with Form 10-style business information. It updates that the licences on the two Pahang iron ore concessions expired in January 2016 and SBS is negotiating with the concession owners, and that SBS has begun a plan to move into financing bauxite mining and trading. It states the company is not in actual development or production of any mineral deposits. Management changed in October 2016: Calvin Chin became CEO, Lok Khing Ming became Chairman, and Jason Chan, S.N. Loh, Brian Wong and Kevin Liu were appointed CFO, COO, CMO and CSO.
23 Dec 2015auditor change▼ Bad
KLJ & Associates, LLP resigned as auditor on December 21, 2015, and the company engaged B F Borgers CPA PC on December 22, 2015. KLJ's report on 2014 included a going-concern paragraph, and the filing reports no disagreements. This is the second auditor change since 2014.
29 Apr 2015asset acquisition disposition● NeutralMajor
On April 23, 2015 the company, now renamed GMCI Corp. (formerly Pacific Metals Corp.), closed a share exchange to acquire all of SBS Mining Corp. Malaysia Sdn. Bhd., issuing 500,000,000 restricted shares to SBS's three shareholders (50 million to CEO and sole director Lok Khing Ming, 75 million to Liew Chin Loong, 375 million to LYF & Son Realty). SBS holds licences over two iron ore prospecting areas in Pahang, Malaysia totalling about 100 hectares and is shifting toward bauxite; the filing describes it as prospecting, and the large share issue means existing holders are heavily diluted (inference from the share count issued).
7 Aug 2014auditor change▼ Bad
The company, then named Pacific Metals Corp., changed auditors: Silberstein Ungar, PLLC resigned on July 29, 2014 after its principals joined KLJ & Associates, LLP, and the board engaged KLJ as the new auditor. The prior audit reports for 2012 and 2013 carried a going-concern qualification, and the filing says material weaknesses in internal controls (segregation of duties; insufficient written accounting policies) had not been remediated. It reports no disagreements with the former auditor.
